P Subramanian, the Founder of Shanthi Gears and Shanthi Social Service, passed away on Friday in Coimbatore. He was 78 and was admitted to a hospital in the city for ill health in the last few days. Shanthi Social Service works to provide education to those from the underprivileged sections of the society and also helps with construction of roads, school buildings etc. He is survived by his three daughters.
Popularly known as the ‘Gear man of Coimbatore’, P Subramanian completed his diploma from PSG Polytechnic in the 1960s and established Shanthi Engineering and Trading Co in Coimbatore to manufacture small gears in 1969. In 1972, Subramanian converted it into a private company by name of Shanthi Gear Products (Private) Limited, which focussed on manufacturing gears to serve the textile sector.
The company got itself listed in the stock exchange in 1986 and grew to become the third largest player in the gears industry in the country. In 2012, it was acquired by the Murugappa group of companies for Rs 464 crore, including a public open offer for 26% stake, in Shanthi Gears. After the sale to Murugappa group, Subramanian concentrated on social and philanthropic services through Shanthi Social Service, which was established in 1996.
The foundation also runs a canteen, a hospital and a pharmacy. The canteen served free food for 300 senior citizens everyday, apart from selling food for a nominal price for others. The hospital and the pharmacy also were known to be run in a not-for-profit manner, thus benefiting the underprivileged strata of the society. The foundation also runs a petrol pump on Trichy Road, where the stock is sold at the same price which was in force when the stock arrived at the outlet, despite the subsequent increase in fuel prices. The foundation also owns and runs a diagnostic centre, a blood bank, an eye-care centre and an LPG crematorium.